Sifco Industries Q3 EBITDA USD 1.3 million

SIFCO Industries, Inc. (NYSE American: SIF) reported an EBITDA of $1.3 million for the third quarter of fiscal 2023, marking a significant improvement compared to a loss of $0.9 million in the same period of fiscal 2022. This performance reflects the company’s efforts to recover from a cyber incident and stabilize operations.

For the first nine months of fiscal 2023, SIFCO’s EBITDA was $0.3 million, compared to $2.5 million in the same period of fiscal 2022. Despite a 4.4% decline in net sales year-to-date, the company managed to improve its EBITDA performance, indicating better cost control and operational efficiency.

Adjusted EBITDA for the third quarter of fiscal 2023 was $1.9 million, compared to an adjusted loss of $0.7 million in the prior year period. This metric, which excludes certain non-operating items, provides a clearer view of the company’s core operational performance.

CEO Peter W. Knapper highlighted that the company has made progress in recovering from the cyber incident and noted an increase in backlog to $122.8 million as of June 30, 2023. This growth in backlog suggests strong demand in the markets SIFCO serves and positions the company for potential revenue growth in future periods.

The company’s financial results are reported using both GAAP and non-GAAP measures, with EBITDA and Adjusted EBITDA serving as supplemental metrics to evaluate operating performance. However, these measures should not be considered in isolation, as they exclude interest, taxes, depreciation, and amortization, which are important factors in assessing overall financial health.